success breeds success : the importance of culture when thinking about strategy

Project Abstract

The fit between culture and strategy is a critical determinant of the success of strategic plans and initiatives. This dissertation addresses the importance of organizational culture, when crafting strategy. What role does creating the right culture play if any, and is there any correlation between culture and company performance? �Companies don�t implement and execute strategies; people do� (Thompson et al., 2005, p. 318). Once strategy has been crafted, execution is dependent on ensuring vision has been communicated and shared with those who will be involved in implementing the strategy. Effective communication and getting a buy in from all those involved in the implementation and execution part is just as important as creating the strategy in the first place. Creating an environment where this vision is shared by all is crucial to the success or failure of the business; hence the importance of culture is a topic which has been of great interest, especially in the last two decades, where the business world has had to deal with new challenges in gaining competitive advantage with the emerging global village.